The price of ethylene glycol began to loosen in April

The price of ethylene glycol was weaker in April. According to data from SunSirs, as of April 22, the average price of domestic oil produced ethylene glycol was 4,490 RMB/ton, a decrease of 0.52% compared to the average price of 4,513.33 RMB/ton in the East China market on April 1. The prices for each region were as follows:

The price range for spot goods executed by mainstream manufacturers in East China was between 4,400-4,700 RMB/ton; The spot price of ethylene glycol in the South China market was 4,400 RMB/ton, while the mainstream manufacturers in Central China had a spot price range of 4,350 RMB/ton for external execution; The mainstream manufacturers in North China offered a spot price of 4,500 RMB/ton for external transactions.

The production of ethylene glycol in the first quarter was increasing month by month

At the beginning of the year, driven by the Red Sea incident and influenced by overseas maintenance news, there were expectations of tight domestic supply, an increase in ethylene glycol prices, and a slight increase in the operating rate of domestic enterprises. In the first quarter of 2024, the production of ethylene glycol increased month by month, from 1.5583 million tons in January to 1.599 million tons in February and 1.602 million tons in March.

In April, the inventory of ethylene glycol at the port increased first and then decreased

In April, the inventory of ethylene glycol at the port began to shift from the previous state of destocking to platform fluctuations. The absolute value of inventory was in the historical middle zone. As of April 18, 2024, the total spot inventory of ethylene glycol in the main port of East China was 812,700 tons, an increase of 40,300 tons compared to the total spot inventory of ethylene glycol in the main port of East China on April 3, 772,400 tons; Compared to the total spot inventory of ethylene glycol in the main port of East China on April 11th, which was 863,400 tons, a decrease of 50,700 tons.

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